A key member of the US central bank, Raphael Bostic, tells the BBC rates might only ease "at the end of 2024".
Asian shares were mixed on Wednesday as the world’s most powerful central banker had a change of heart on US rate cuts this year, pushing Treasury yields to new five-month highs and the dollar towering against other currencies. The beleaguered yen is plumbing fresh 34-year lows on an almost daily basis. It was last steady […]
The US central bank's favored measure of inflation accelerated last month, according to government data published Friday, pushing back the chances of an interest rate cut this summer.The hotter print is likely to cement the view that inflation, while down sharply since 2022, remains a challenge, and could keep the Federal Reserve on pause as it seeks to battle rising prices.It also complicates US president Joe Biden's reelection message as he seeks to convince still-skeptical consumers that the...
Older Americans are fueling a sustained boost to the U.S. economy. Benefiting from outsize gains in the stock and housing markets over the past several years, they are accounting for a larger share of consumer spending — the principal driver of economic growth — than ever before.
Analysts expect S&P 500 profits to jump 8% in 2024 and 14% in 2025 after subdued growth last year.
BEIJING/FRANKFURT (Reuters) -Tesla has cut prices in a number of its major markets, including China and Germany, following price cuts in the United States, as it grapples with falling sales and an intensifying price war for electric vehicles (EVs), especially against Chinese EVs. The price cuts come after Tesla, led by its billionaire CEO Elon Musk, reported this month that its global vehicle deliveries in the first quarter fell for the first time in nearly four years. "Tesla prices must...
Cannabis stocks surged Tuesday on the news that the U.S. Drug Enforcement
Asian stocks inched higher on Tuesday as investors awaited a slew of economic data, corporate earnings and the US Federal Reserve’s policy meeting, while the yen was slightly weaker a day after suspected intervention rescued it from 34-year lows. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.36 per cent higher, set to clock […]
Commerce department says gross domestic product growth decelerated to 1.6% at start of year as consumers slowed spendingAmerica’s leading stock indices came under pressure on Thursday after official data revealed that US economic growth slowed sharply to its weakest rate in almost two years.But as high interest rates take their toll on the world’s largest economy, inflation continues to loom large. Continue reading
This isn’t shaping up to be a great year for Congress — specifically, the House of Representatives, and, still more specifically, House Speaker Mike Johnson (R-La.). After the calamitously bruising battle to send more magic fedbux off to support wars deemed in America’s interest, which saw the speaker side with Democrats over outraged members of his own party, the nation’s legislature plumbed new depths of dissatisfaction among millions of Americans. For many voting citizens, the outrage...
North Korea slammed on Friday United States Ambassador to the United Nations Linda Thomas-Greenfield's tour across South Korea and Japan, as per KCNA.Kim Son-gyong, North Korea's vice foreign minister
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. Nowadays, it’s anyone’s guess when the Federal Reserve will begin to cut interest rates this year — if at all. Fed officials are meeting this week, starting Tuesday, to discuss rates and set policy. They’re widely expected to hold rates steady for the sixth straight meeting. But analysts...